New York City F.C. is inching closer to finding a permanent home after searching for seven years for a stadium location.
The team's owners and a group of local developers are nearing an agreement with New York City that would allow the club to build a privately financed, 25,000-seat stadium in the South Bronx, according to The New York Times.
It is part of a $1 billion project that would replace parking lots and an elevator parts factory with a school, hotel, retail stores and affordable housing units near Yankee Stadium–the team's current home.